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Pop!: Why Bubbles Are Great For The Economy…
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Pop!: Why Bubbles Are Great For The Economy

by Daniel Gross

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1 vote worldsedge | Mar 4, 2008 |
The idea is good: bubbles in the economy cost a lot of investors their money but afterwards, they leave us all a nice and paid for infrastructure. True for telegraph: after most telegraph companies went bust, new business was created by AP press, Dunn and Bradstreet and others. Same for railroads. Same for internet: worldcom and global XS went bust but without the bandwidth their bubble left us, we wouldn't have Youtube or Second life.

In the details, the book is not so good. Obviously, Daniel Gross has read a lot, but he doesn't know many of the details. ( )
  xtien | May 24, 2007 |
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Amazon.com Product Description (ISBN 0061151548, Hardcover)

Daniel Gross is one of the leading economics and business writers in America today. His prolific commentary and unnerving insights are a staple of Slate, The New York Times, Fortune, Wired, New York magazine and dozens of other publications. In this lively romp, Gross makes a counter-intuitive argument. America in the first decade of the new century is not thriving despite the folly of the Y2K bubble-nor has it made a surprisingly quick recovery from the devastation of the crash in 2001 and 2002. Our current economic growth-and, indeed, the globalization that is a part of that growth-is a product of that wasteful bubble. Pop! will take readers on a fast-paced tour of economic history where the reckless expansion of previous eras in railroads and automobiles, telegraphs and land, streetcars and stocks all led to unsustainable booms, collapses and, then, surprising blossoms of prosperity. Gross is gifted writer with a deep well of historical knowledge and easy grasp of economic conflicts. His book will re-orient our view of recent economic history and re-color our understanding of American growth throughout the national experience.

(retrieved from Amazon Thu, 12 Mar 2015 18:25:01 -0400)

Argues that investment bubbles and their related business infrastructures have actually fueled the world's economic growth and globalization, in a historical account of American bubbles and collapses that contributed to prosperous longer-term innovations.… (more)

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